Why iShares MSCI Korea ETF (EWY) rose 3.51%
iShares MSCI Korea ETF (EWY) rose 3.51% on September 21, 2026 — Korea Zinc's $7.4B project clears US review.
What happened
Korea Zinc's $7.4 billion Project Crucible has cleared a major US environmental review, removing a significant regulatory hurdle for the zinc and copper mining and processing project.
Why it moved
A cleared environmental review substantially de-risks the project timeline and capital deployment, strengthening sentiment toward Korean industrial and materials exporters whose supply chains benefit from stable…
Why it matters
Korea Tech and Korean equity inflows are being driven by a broader surge in export confidence—September exports jumped 78% in the first 20 days—and this mining infrastructure win reinforces the tailwind for…
What would break the thesis
If US agencies reopen the review or impose costly new environmental conditions, or if the project faces permitting delays at state level, the de-risking narrative reverses.